How Is the Oil Industry Dealing With Covid?
It was Andrew Swiger, the chief financial officer at Exxon Mobil Corp., who summarized the attitude of the whole industry after Big Oil ended reporting another dismal set of quarterly Continue Reading
Organised ‘overkill’: China shows off rapid lockdown system after latest outbreak
Days after a 17-year-old girl tested positive for COVID-19 in a remote part of western China last week, health authorities said they had tested over 4.7 million people in the Continue Reading
China’s Factory Outlook Steadies as Recovery Stays on Track
An official gauge of activity in China’s manufacturing industry fell slightly in October, while consumer spending helped to lift services output, suggesting the economic recovery remains on track. The manufacturing Continue Reading
Chinese manufacturing expands in October but at slower pace
China’s manufacturing activity expanded in October for the eighth straight month, though at a slightly slower rate than in September, the National Bureau of Statistics said Saturday. The Purchasing Managers’ Continue Reading
Chinese promise market opening amid technology push
China will promote “technological self-reliance” under the ruling Communist Party’s latest five-year plan but will open further to trade, officials said Friday. The comments reflect growing official urgency about nurturing Continue Reading
Global travel and tourism projected to shed 174 million jobs
The global travel and tourism industry is on course to lose 174 million jobs this year if current restrictions to curb the spread of the coronavirus remain in place, a Continue Reading
China Believes Natural Gas Demand Will Soar
The Chinese economy has been the single largest contributor to global growth over the past several decades. Fossil fuel producers around the world closely watch Beijing, as the goals set Continue Reading
Task force sees ‘unrelenting’ COVID-19 spread; daily U.S. cases up by record 91,000
The White House coronavirus task force warned that much of the country is in the grips of an “unrelenting” surge in COVID-19 cases and urged tough countermeasures, as the number Continue Reading
Europe’s Covid-19 Cases and Deaths Are Climbing, a Warning for the U.S.
French President Emmanuel Macron and German Chancellor Angela Merkel announced new lockdown measures Wednesday, as Europe sees mounting cases and deaths related to the coronavirus. Photo: Christophe Simon/AFP/Getty Images Europe Continue Reading
China Launches Construction Of Huge $20 Billion Refinery Complex
China has launched the construction of a refinery and petrochemical complex worth US$20 billion in the Shandong province, the home of the independent Chinese refiners, Reuters reports , citing a Continue Reading
Next crop of COVID-19 vaccine developers take more traditional route
The handful of drugmakers dominating the global coronavirus vaccine race are pushing the boundaries of vaccine technology. The next crop under development feature more conventional, proven designs. FILE PHOTO: Small Continue Reading
Scientists warn of new coronavirus variant spreading across Europe
A coronavirus variant that originated in Spanish farm workers has spread rapidly through much of Europe since the summer and now accounts for the majority of new Covid-19 cases in several Continue Reading
Covid-19 Pandemic:
German Chancellor Angela Merkel proposed closing bars and restaurants for a month and French President Emmanuel Macron prepared to announce tougher restrictions that may include a lockdown as hospitals fill up Continue Reading
CHINA DATA: Oct throughput falls as state-owned refiners cut runs to 79%
Crude throughputs at China’s refineries extended the falling trend in October, with both state-owned oil companies and independent refineries cutting run rates amid weakening refining margins. Receive daily email alerts, Continue Reading
U.S. reports more than 500,000 cases in a week, a record, as the Trump administration says it ended the pandemic.
Pfizer is one of four companies with large, late-stage clinical trials underway in the United States.Credit…Brendan Mcdermid/Reuters After weeks of dangling the possibility of early coronavirus vaccine results by October, Continue Reading
Wave of new COVID-19 cases crashes across U.S. and Europe as winter looms
The United States, Russia, France and many other countries are setting records for coronavirus infections as a tidal wave of cases washes over parts of the Northern Hemisphere, forcing some Continue Reading
Brazil Becomes One Of China’s Top Oil Suppliers
Brazil climbed to number three among China’s crude oil suppliers last month thanks to continued purchases by independent refiners, whose quotas for imported crude oil are running out. Imports of Continue Reading
Foreign Investment Plummets During Pandemic, Except in China
China has contained the coronavirus with only localized and short-lived restrictions since April. Foreign direct investment in China largely held steady during the first half of this year, even as Continue Reading
China Is Far Behind on U.S. Purchases Under Trade Deal
“Certainly, the Chinese are not going to meet the commitments,” said Scott Kennedy, a senior adviser at the Center for Strategic and International Studies. “The trend lines don’t look good Continue Reading
China Sets Its Sights On Global EV Dominance
The world’s largest automotive market, China, is looking to become a dominant player in the rising global electric vehicle market. Chinese EV manufacturers are expected to start expanding overseas, while Continue Reading
BP CEO: Second Wave Of COVID Hits Oil Demand Harder Than Expected
The second wave of coronavirus cases in the world is impacting global oil demand “maybe a little bit more than we thought” in the second half of this year, BP’s Continue Reading
China’s New Growth Plan May Push Economy Past U.S. Within Decade
President Xi Jinping opened a meeting in Beijing this week to map out the next phase of economic development, just days before one of the most contentious U.S. elections in history Continue Reading
China reports surge of asymptomatic coronavirus cases in Xinjiang
China reported the highest number of asymptomatic novel coronavirus infections in nearly seven months on Monday following the discovery of a cluster of cases linked to a garment factory in Continue Reading
Covid-19: China tests entire city of Kashgar in Xinjiang
Around 4.7m people in Kashgar are being tested, with 138 asymptomatic cases found so far. China has been largely successful in bringing infection rates down, but there continue to be Continue Reading
Oxford Covid vaccine trials offer hope for elderly
Avaccine considered a frontrunner in the race to protect the global population from Covid-19 has produced a robust immune response in elderly people, the group at highest risk from the Continue Reading
China Plenum: What to Watch for in 5-Year Economic Plan
China’s top policy makers meet next week to hammer out the country’s future economic blueprint, offering clues on how the leadership plans to pivot the world’s second-largest economy to be Continue Reading
Chinese Energy Giant CNOOC Reports Major Drop In Revenue
CNOOC, the Chinese state energy giant focused on offshore and overseas exploration and production, reported a 27-percent drop in revenues for the third quarter, as quoted by Reuters, as business Continue Reading
Where Europe’s Second Wave Is Filling Up Hospitals
Poland has turned its largest stadium into an emergency field hospital. The numbers of Covid-19 patients in Belgium and Britain have doubled in two weeks. And doctors and nurses in Continue Reading
China’s Pollution Effort Falls Short Of Expectations
Despite ambitious efforts to reduce air pollution levels across China over the last five years, results have fallen short of expectations, Reuters reports , citing a senior government official. “While Continue Reading
China’s Crude Imports Become Backbone Of Oil Price Recovery
The world’s largest oil importer, China, will continue to have a significant impact on the oil market in the coming months, as most of the rest of the world continues Continue Reading
China’s grain hunting to continue amid growing uncertainty: analysts
China is expected to continue buying grains at a faster-than-expected pace in the coming months as the country looks to meet its internal demand and ensure stable domestic reserves in Continue Reading
Wales locks down as COVID-19 cases spike; Manchester resists
Wales became the second nation in the United Kingdom to lock down large swaths of its economy to combat rising coronavirus infections, even as British Prime Minister Boris Johnson on Continue Reading
Belgium fears virus “tsunami” as COVID-19 cases keep soaring
Bars and restaurants across Belgium shut down for a month and a night-time curfew took effect Monday as health authorities warned of a possible “tsunami” of new virus cases in Continue Reading
Lockdowns Return to Ireland and Wales in Europe’s Virus Response
Ireland and Wales imposed stringent lockdowns and Italy’s financial center is planning a curfew, as Europe steps up efforts to regain control of the coronavirus pandemic. In Germany, tensions rose with Continue Reading
Global coronavirus cases rise by one-day record of 400,000
Global coronavirus cases rose by more than 400,000 for the first time late on Friday, a record one-day increase as much of Europe enacts new restrictions to curb the outbreak. Continue Reading
How Long Will China Continue To Prop Up The Oil Market?
China has played a significant role in supporting global oil demand recovery in recent months by importing its highest-on-record crude volumes since May. Customs import data from the world’s top Continue Reading
China’s Economy Plows On as World’s Only Major Growth Engine
China’s recovery from the coronavirus pandemic continued in the third quarter and showed signs of broadening in September as consumer spending accelerated, keeping the economy on track to be the Continue Reading
China’s economic recovery quickens as consumption returns
China’s economic recovery accelerated in the third quarter as consumers shook off their coronavirus caution, although the weaker-than-expected headline growth suggested persistent risks for one of the few drivers of Continue Reading
A Dive Into China’s GDP Details Shows Recovery Broadening Out
China’s economic recovery from the pandemic slump is broadening out, with data on Monday showing stronger growth in manufacturing and consumer spending. Here’s a look behind the headline numbers to see Continue Reading
China Economy Grows 4.9% as Rest of World Struggles With Coronavirus
Chinese officials said Monday that gross domestic product expanded by 4.9% in the third quarter from a year earlier, putting China’s economy back toward its pre-coronavirus trajectory half a year Continue Reading
With Covid-19 Under Control, China’s Economy Surges Ahead
As most of the world still struggles with the coronavirus pandemic, China is showing once again that a fast economic rebound is possible when the virus is brought firmly under Continue Reading
China Likely to Show Covid-19 Recovery Can Be Real: Eco Week
China is about to show the world that its economy is pulling further out of the chasm created by the coronavirus, setting it apart from other nations struggling to avoid Continue Reading
As the Virus Surges, Stark Differences Over What Is Around the Corner
As the coronavirus continued to surge in many parts of the United States, officials and experts offered starkly different outlooks on Sunday about what was to come and when the Continue Reading
Russia shuns tough restrictions even as infections soar
It’s Friday night in Moscow, and popular bars and restaurants in the city center are packed. No one except the staff is wearing a mask or bothers to keep their Continue Reading
Poland to open temporary hospital at national stadium in Warsaw
Poland plans to open a temporary hospital at the national stadium in Warsaw as it faces a spike in coronavirus cases and a health system overload, the government said on Continue Reading
China’s Oil Imports Are Falling
China, which has been on an oil-buying binge since the start of the pandemic, is now retreating as storage space fills up and demand for fuels in the regions it Continue Reading
Live updates: U.S. surpasses 64,000 new coronavirus infections two days in a row for first time since late July
People dine in plastic tents at a Manhattan restaurant on Thursday. For the first time since late July, the tally of newly reported coronavirus cases in the United States surpassed Continue Reading
Oil Giants Play It Cool As World’s Largest Crude Market Recovers
The Asian market has moved into a state of cautious expectation. Although October is still only halfway through, one can state with a great degree of certainty that this month’s Continue Reading
Europe’s Covid-19 Lockdowns Hit Region’s Stocks, Fuel-Demand Outlook
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading
China’s New Refineries Are Embarking On A Crude Buying Spree
New refinery start-ups in China are helping to absorb some of the crude oil from the Middle East amid an otherwise depressed market with stalled demand recovery. Large private Chinese Continue Reading